Baumer S/A is a Brazilian publicly held company, founded in 1952, that has been operating for decades in the medical devices and healthcare equipment sector. The company, now structured as a holding, has its industrial headquarters in Mogi Mirim, in the interior of São Paulo state, where it maintains a manufacturing complex with cutting-edge technology and a specialized team. Over the course of its history, Baumer has incorporated technologies, companies, and new products, expanding its scope of operations within the healthcare chain. The company’s shares, traded under tickers BALM3 and BALM4, are listed on B3, reflecting its long-standing relationship with the capital markets that began in 1970, when it went public and adopted the name Baumer Equipamento Médico Hospitalar S/A. In 1988, its structure was reorganized with the creation of the holding company Baumer S/A, responsible for the group’s strategic planning, financial control, and corporate development.

Baumer’s business model combines industrialization, trade, production, import, export, and services associated with medical and hospital equipment, also operating in the scientific and hospitality segments. The company operates both in Brazil and abroad, focusing on medical devices aimed at healthcare service providers, such as hospitals, laboratories, private and public clinics, health insurers, and industry players in the sector. In addition to the industrial core, the holding company centralizes functions such as corporate marketing, human resources policy, strategic planning, investment policy, and a development and research center that coordinates the group’s projects. This structure allows it to integrate everything from product technological development to technical assistance and after-sales service, supporting the different business divisions.

The group’s operations are segmented mainly into two revenue streams: capital goods in the form of medical-hospital equipment and capital goods in the form of implants. In 2024, consolidated net operating revenue reached R$ 194.4 million, with approximately 48% coming from the equipment business unit and 52% from the implants unit. In the orthopedic implants segment, Baumer offers a broad line of conventional and non-conventional prostheses for hip, knee, shoulder, upper and lower limbs, as well as trauma and spine solutions, including internal, external, and intramedullary fixation, fixation and interbody devices, and products for neurosurgery. The company also develops biomaterials such as biphasic calcium phosphate ceramics and bone grafts for orthopedic and dental use, through the Genius (orthopedic biomaterials) and Dental (grafts and membranes) brands, reinforcing its presence in higher value-added healthcare materials.

In the medical-hospital equipment segment, Baumer has consolidated its operations through the Hospital Division, originating from the former Baumer Castanho, acquired in 1976, and Baumer Hospitalar Ltda, merged into Baumer S/A in 1996. This division is responsible for the production and sale of equipment and accessories for hospital, industrial, and commercial laundry, as well as solutions for surgical centers, central sterile supply departments, and transport. Key products include general and specific surgical tables, auxiliary furniture and accessories, surgical lights, anesthesia systems, and transport and storage furniture. The sterilization and materials processing line includes sterilizers, ovens, steam generators, autoclaves, washer-disinfectors, ultrasonic washers, water treatment systems with reverse osmosis, and air purifiers, grouped under brands such as AVENXX and TRIAXX. MEDIXX complements the portfolio with preventive and corrective maintenance services, inspections, calibrations, and supply of spare parts for electromedical equipment, reinforcing the company’s presence in after-sales and clinical engineering.

Baumer organizes its operations into divisions and affiliated companies to serve different regions and market niches. The Orthopedics Division, located in Mogi Mirim, is structured into the Prosthesis, Trauma, and Special Products areas, and stands out for its ongoing investment in research and development, with around 5% of annual gross revenue allocated to this technology hub. This division operates through agents distributed across all Brazilian states and in several countries, seeking to provide rapid response both to emergencies and scheduled procedures, including complex cases requiring tumor endoprostheses or customized solutions. In Brazil, affiliates such as Comércio e Importação Erecta Ltda, in São Paulo, work exclusively in strategic areas of the state, while MEDIXX and STERIUM, both based in Mogi Mirim, operate in technical assistance and sterilization services for healthcare products, serving hospitals, hotels, and motels directly.

Baumer’s geographic footprint combines a strong domestic presence with international expansion. In 2024, the Brazilian market accounted for around 90% of net revenue, approximately R$ 174.9 million, while foreign sales represented 10%, around R$ 19.5 million. Exports are distributed mainly across Latin American countries such as Chile, Colombia, the Dominican Republic, Paraguay, Argentina, Bolivia, Ecuador, Nicaragua, Peru, and Guatemala, as well as sales to Lebanon and other markets. Abroad, AM Internacional, based in Santiago, Chile since 1981, operates in the import, representation, export, and finishing of products, controlling commercial and service sectors in the country and coordinating a network of exclusive representatives in all Chilean regions. The company also holds quality certifications required by the United States and European markets, such as CE and FDA marks, which are essential to support its plan to expand exports to different continents.

From an industrial standpoint, Baumer operates a facility with approximately 18,000 square meters of built area in the industrial district of Mogi Mirim. The production process involves transforming raw materials such as steel and titanium through cutting, machining, milling, welding, heat and surface treatments, as well as assembly with components purchased on the market. The main inputs are steel profiles, tubes and sheets, electrical materials, cast parts, and titanium. The supply policy is based on supplier assessment, accreditation, certification, and monitoring, with a focus on long-term partnerships. In distribution, the company operates through representatives in all Brazilian states, which allows for proximity to customers and greater service agility. There is no significant demand concentration, as the company reports having no customers responsible for more than 10% of its total net revenue.

Baumer is subject to intense regulation given the nature of its healthcare products. In Brazil, the company and its affiliates are inspected and licensed by competent authorities, keeping their facilities compliant as of the reference form date. It is also subject to environmental legislation at the federal, state, and municipal levels, with oversight by public agencies that may impose sanctions in case of non-compliance. The company states that it seeks to carry out all activities in compliance with applicable environmental legislation, ensuring the obtainment of necessary licenses and authorizations and the proper treatment of industrial waste at its manufacturing site. In foreign markets, Baumer must meet the specific regulations of each country, including requirements for international certifications such as CE and FDA to market medical devices. In terms of governance and corporate responsibility, the company maintains a code of ethics, revised in 2021, applicable to employees, suppliers, the commercial agents network, customers, shareholders, and other related parties, and states that it does not make contributions to political parties or candidates, although it does not yet publish a formal sustainability report, despite internally developing actions focused on job creation, educational opportunities, gender equity, occupational health and safety, and responsible disposal and treatment of waste.

For investors following BALM3 and BALM4 shares on B3, Baumer presents itself as a healthcare company operating in a combination of equipment, implants, and technical services, exposed to the capital goods investment cycle and the dynamics of public and private funding in the healthcare system. Its diversification by product lines, nationwide capillary presence, and growing international footprint, especially in Latin America, make up the business profile described in its reference form, which also highlights the importance of medium- and long-term industrial operations and the relevance of regulatory and environmental compliance for the continuity of the company’s activities.